Billionaire Gerry Harvey, known for founding Harvey Norman, is expanding his investment portfolio into the resources sector. Harvey recently invested $3 million to increase his stake in ASX-listed Mayur Resources to 6.7%. Mayur Resources is focused on developing a lime and cement project in Papua New Guinea. This investment signals a diversification strategy for Harvey beyond his established interests in retail, property and agriculture.
The project, located north of Port Moresby, aims to extract lime for use in the building, industrial, and mining sectors. Mayur Resources intends to become a major producer for both Papua New Guinea and Australia. Harvey’s move into Mayur reflects a growing interest in resource opportunities within the region. His investment adds significant financial backing to Mayur’s ambitions to scale its operations and potentially reshape the lime and cement supply chain.
